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Valued Contributor
p-
Posts: 2,539
Registered: ‎06-05-2008

Re: MyFico Sucks

Hmm.  

 

I wanted an Equifax score before an app, and looked at pricing, but decided to go with a scorewatch trial instead.  the EQ score didn't show in my cart, but when I checked out I got charged the 19.95 or whatever.  I emailed CS, and they had it refunded within a day.

 

I got my free scores, and even got timely notifications when PenFed hit me with the inquiry.  On day 8 I canceled, because I knew if I waited for day 10 I had a chance of forgetting.

 

I look at it this way - Ol' Barry said "I bet you a free score that you'll either like my product enough to pay, or forget to cancel" and I took the bet.  

 

It was more than fair for you to be charged, and the company went the extra mile to refund you anyway.  The end result?  I am more satisfied with the product/comapny after reading this.

  2-13-14: FICO EXP: 779 - EQU: 742 - TRAN: 765 - AVG: 762 - +212 points from JUN 2008 - MY CREDIT JOURNAL

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HiLine
Posts: 2,836
Registered: ‎10-19-2012

Re: MyFico Sucks


axxy wrote:

 

 

I think people should demand a right to know the exact real reasons for score changes

 


And why exactly do you think you're entitled to such a "right"? MyFICO comes up with an algorithm that determines a score from a bunch of items on a credit report. It is their private property, much like the design of an Apple product. Why should they reveal their trade secret to the entire world? They are a for-profit corporation, not a charity organization.

Valued Contributor
Repo-ed
Posts: 2,953
Registered: ‎02-09-2012

Re: MyFico Sucks


HiLine wrote:

axxy wrote:

 

 

I think people should demand a right to know the exact real reasons for score changes

 


And why exactly do you think you're entitled to such a "right"? MyFICO comes up with an algorithm that determines a score from a bunch of items on a credit report. It is their private property, much like the design of an Apple product. Why should they reveal their trade secret to the entire world? They are a for-profit corporation, not a charity organization.


$1,000,000 question that could solve nearly every issue we face

Valued Contributor
p-
Posts: 2,539
Registered: ‎06-05-2008

Re: MyFico Sucks


Repo-ed wrote:

HiLine wrote:

axxy wrote:

 

 

I think people should demand a right to know the exact real reasons for score changes

 


And why exactly do you think you're entitled to such a "right"? MyFICO comes up with an algorithm that determines a score from a bunch of items on a credit report. It is their private property, much like the design of an Apple product. Why should they reveal their trade secret to the entire world? They are a for-profit corporation, not a charity organization.


$1,000,000 question that could solve nearly every issue we face


Meh.  The algorithm may be a secret, but the way to get a high score is not.  

 

Pay on time, all the time.  Be conservative with how much debt you borrow and carry, and demonstrate a long history of responsible credit use over time.

 

Do those simple things, and you will qualify for vitually any credit offer.  At that point, who cares if your score is 760, 800, or 10,000?

 

Don't do those things, and the only people willing to lend to you will be predatory bottom feeders.  It's that simple.

  2-13-14: FICO EXP: 779 - EQU: 742 - TRAN: 765 - AVG: 762 - +212 points from JUN 2008 - MY CREDIT JOURNAL

Established Member
mekikya
Posts: 26
Registered: ‎11-23-2012

Re: MyFico Sucks

wow there are ALOT of myFICO fan boys on this site lol

 

if you can't look at something objectively and are loyal to it without question, no one can really trust your opinion...

 

I guess all the people pouring out money want to make sure their purchase is justified in their mind.

 

I'm amazed none of the myFICO fan boys see the ridiculousness of having to prove your worthiness as a person by a number. and yes as a person, because this affects your life as a person, mortgage, car payments etc...

 

back when it first started it merely offered a service to businesses, now its grown to such proportions that you can't live life without it, sad really, as people as a whole...I guess we all want a number stamped on our foreheads lol


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Blogger
HiLine
Posts: 2,836
Registered: ‎10-19-2012

Re: MyFico Sucks


mekikya wrote:

 

 the ridiculousness reasonability of having to prove your creditworthiness as a person potential lender by through a number. and yes as a person, because this affects your life as a person if you need mortgage, car payments etc...

 

 


IFYP

 

Valued Contributor
p-
Posts: 2,539
Registered: ‎06-05-2008

Re: MyFico Sucks


mekikya wrote:

wow there are ALOT of myFICO fan boys on this site lol

 

if you can't look at something objectively and are loyal to it without question, no one can really trust your opinion...

 

I guess all the people pouring out money want to make sure their purchase is justified in their mind.

 

I'm amazed none of the myFICO fan boys see the ridiculousness of having to prove your worthiness as a person by a number. and yes as a person, because this affects your life as a person, mortgage, car payments etc...

 

back when it first started it merely offered a service to businesses, now its grown to such proportions that you can't live life without it, sad really, as people as a whole...I guess we all want a number stamped on our foreheads lol


You're right, it is unreasonable for people to want your credit history before making a loan.  Say, could you please loan me a few hundred bucks?  Don't worry, I'm good for it.  You can trust me.

  2-13-14: FICO EXP: 779 - EQU: 742 - TRAN: 765 - AVG: 762 - +212 points from JUN 2008 - MY CREDIT JOURNAL


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

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